Waiver of subrogation - Study guides, Class notes & Summaries

As a result, typical issues faced by insurance professionals include: -Answer- 1. Clients often agree to indemnify/hold harmless other parties • A common method for indemnifying an indemnitee is to purchase a Commercial General Liability Policy • See discussion in the Commercial General Liability Section of this Institute regarding contractual liability coverage for certain types of insured contracts, as defined 2. Clients may agree to provide a waiver of subrogation to other parti...

Florida General Lines Agent Exam questions With Verified Answers What is the definition of a risk that is insurable? a.Risk is defined as a chance or the possibility of financial loss; only pure risks are insurable as there is no possibility of a gain b.A chance of a loss or gain c.A risk where there is a possibility of a gain d.A chance for insurance coverage - answera What is an insurance policy? a.A binder that offers initial insurance coverage b.An oral agreement related to insuran...

CAIB 1 Practice Questions (100) with Correct Answers Consideration is... a. The law of insurance b. A promise between parties c. A contract's binding force d. An exchange of something of value - Answer- d. An exchange of something of value A stock company is... a. A company that invests in other companies b. A company owned by stockholders who provide the capital to start and run the company c. Is owned by customers of the company d. A company that owns livestock - Answer- b. A compa...

Aviation Law Exam 2 Review 2024 Questions and Answers hull coverage - Answer ️️ -covers damage to or destruction of the insured aircraft resulting from an accident -generally doesn't cover damage to the aircraft's engines in connection with an engine failure, unless the engine failure leads to other damage to the aircraft hull coverage may be purchased to cover: - Answer ️️ -all risks all risks while not in flight, or all risks while not in motion.2 Purpose-of-use categories - ...

OTL EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+ c. Spread the losses of a few over many - The main function of insurance is to a. Provide total security for everybody b. Provide a pool of capital so everyone who suffers a loss can be indemnified c. Spread the losses of a few over many d. Provide an aid to credit d. Forfeiture - The loss of a right as a result of the non-performance of some obligation is called a. Waiver b. Non-waiver c. Scienter d. Forfeiture b. Stock companies - W...

Florida General Lines Agent Exam Questions And Answers What is the definition of a risk that is insurable? a.Risk is defined as a chance or the possibility of financial loss; only pure risks are insurable as there is no possibility of a gain b.A chance of a loss or gain c.A risk where there is a possibility of a gain d.A chance for insurance coverage - ANS a What is an insurance policy? a.A binder that offers initial insurance coverage b.An oral agreement related to insura...

FLORIDA GENERAL LINES AGENT EXAM QUESTIONS & ANSWERS, 100% ACCURATE, VERIFIED/ What is the definition of a risk that is insurable? a.Risk is defined as a chance or the possibility of financial loss; only pure risks are insurable as there is no possibility of a gain b.A chance of a loss or gain c.A risk where there is a possibility of a gain d.A chance for insurance coverage - -a What is an insurance policy? a.A binder that offers initial insurance coverage b.An oral agreement related ...

Florida Claims Adjuster Exam, 6-20 All Lines Adjuster- Florida- Review Already Passed Peril Something that causes a loss. Hazard Something that increases the probability that a loss will occur. Warranty A policy condition, either based on information in the insureds application or inserted by the insurer. It is a guarantee of a fact. Misrepresentation An untrue statement by the insured, made in an application for insurance but which does not become a part of the policy. Concealment The fail...

Florida General Lines Agent Exam Questions 2024 What is the definition of a risk that is insurable? a.Risk is defined as a chance or the possibility of financial loss; only pure risks are insurable as there is no possibility of a gain b.A chance of a loss or gain c.A risk where there is a possibility of a gain d.A chance for insurance coverage ️a What is an insurance policy? a.A binder that offers initial insurance coverage b.An oral agreement related to insurance c.A tempo...

PRIMERICA LIFE INSURANCE EXAM. All Most Examined Questions Bank with answers. 100% verified. Rated A. An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? a. mutual b. reciprocal c. nonprofit service organization d. stock - A. mutual funds not paid out after paying claims ...